Commercial Lease Guaranty Generator

COMMERCIAL LEASE PERSONAL GUARANTY This Lease Guaranty (this "Guaranty") is made and executed as of November 15, 2024, by: Guarantor: Robert Vance, residing at 100 Wall Street, Suite 1400, New York, NY 10005 In favor of Landlord: Manhattan Realty Partners LLC Regarding Tenant: Vance Analytics Inc. (a Delaware Corporation) Underlying Lease Premises: Suite 1800, 350 Park Avenue, New York, NY 10022 RECITALS WHEREAS, Landlord and Tenant are concurrently entering into that certain Commercial Lease Agreement (the "Lease") for the Premises; and WHEREAS, Landlord has required, as a material condition precedent to executing the Lease, that Guarantor execute this Guaranty to induce Landlord to enter into the Lease. NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor agrees as follows: 1. GUARANTY OF PAYMENT AND PERFORMANCE Guarantor hereby guarantees the timely payment of all base rent, additional rent, utility fees, operating expense pass-throughs, and the faithful performance of all covenants undertaken by Tenant under the Lease. 2. NATURE OF GUARANTY LIMITED "GOOD GUY" GUARANTY COVENANT: Notwithstanding anything to the contrary herein, Guarantor's liability under this Guaranty shall be limited to all base rent, additional rent, operating expense escalations, and monetary obligations that accrue under the Lease up to the date (the "Surrender Date") that Tenant: (a) Provides Landlord with at least 90 days prior written notice of its intention to vacate and surrender the Premises; (b) Has paid all accrued rent and financial charges through the Surrender Date; (c) Peacefully vacates and surrenders the Premises to Landlord broom-clean, free of all subtenants and occupants, and delivers all keys and possession. Upon full satisfaction of conditions (a) through (c), Guarantor shall have no liability for rent or damages accruing subsequent to the Surrender Date. 3. PRIMARY OBLIGATION AND WAIVER OF NOTICE This is a guaranty of payment and not merely of collection. Landlord shall not be required to proceed first against Tenant, exhaust remedies against Tenant, or foreclose upon any security deposit before seeking enforcement directly against Guarantor. Guarantor expressly waives: (a) Notice of acceptance of this Guaranty; (b) Notice of any breach or default under the Lease; (c) Presentment, protest, and demand for payment; (d) Any right to require marshaling of assets. 4. SUCCESSORS AND GOVERNING LAW This Guaranty shall be binding upon Guarantor's heirs, executors, administrators, and legal successors. This Guaranty shall be governed by and construed in accordance with the laws of the State of New York. IN WITNESS WHEREOF, Guarantor has duly executed this Guaranty under seal as of the date first above written. GUARANTOR: ____________________________________________________ Signature: Robert Vance Printed Name: Robert Vance Date: _____________________________________________ NOTARY PUBLIC ACKNOWLEDGMENT: State of New York, County of ___________________ On this _____ day of ____________, 20___, before me personally appeared Robert Vance, known to me to be the person described in and who executed the foregoing instrument, and acknowledged that they executed the same as their free act and deed. ____________________________________________________ Notary Public, State of New York My Commission Expires: _____________________________